23/08/2018 | Ingredients

Symrise reports accelerating growth

After what the company describes as a “dynamic” start to the year, Symrise has reported that it accelerated its organic growth course in the second quarter, showing 10.6 % growth. All segments and regions contributed to this positive development.

Group sales rose by 9.0 % in the first half of 2018. Taking into account portfolio and exchange rate effects, sales grew by 4.0 % to EUR 1,575.5 m (H1 2017: EUR 1,515.3 m). Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 317.1 m (H1 2017: EUR 322.9 m). The EBITDA margin remained at 20.1 %.

Against the background of this positive business performance, Symrise is refining its outlook for 2018: the group now expects an increase in annual sales above the medium-term target corridor of 5 to 7 %, thereby growing significantly faster than the market.

Flavour achieved strong organic sales growth of 10.9 % in the reporting period. All regions and application areas significantly expanded their sales. The segment also benefited from new business with vanilla and the high price level of vanilla applications. Considering exchange rate effects and the Cobell acquisition, the segment’s sales grew by 9.0 % to EUR 604.7 m (H1 2017: EUR 554.8 m). EBITDA in the flavour segment increased in the first half of 2018 by 3.3 % to EUR 127.0 m (H1 2017: EUR 123.0 m). At 21.0 %, the EBITDA margin remained at a very good level (H1 2017: 22.2 %).